Renovated Duplex with
For Sale
$399,000
8537 39 Apricot Street, New Orleans, LA 70118
Updated two-unit property with included appliances and dedicated laundry facilities in both residences.
Property Size1,900 SF
Days on Market106
Property Features for 8537 39 Apricot Street
General Information
Standard status
Active
Size
1,900 SF
Property subtype
Multi Family Home
Site & Location
Highway Access
Yes
Public Transit
Yes
Amenities
inside laundry
Building Details
Building Size
1,900 SF
Year Built
1940
Stories
1
Listing Agency:
R. J. Brent & Associates Company, Inc.
(504) 376-4924
Listed By:
Janet Maumus
(504) 376-4924
Source:
Nolalivingrealty
Added: May 11
Changed: Aug 22
Last Checked: Aug 23 at 12:06PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of R. J. Brent & Associates Company, Inc.
Investment Insights
Based on property information with market context.
Built in 1940, this duplex has undergone a comprehensive renovation with updated electrical and plumbing systems, a new roof, and contemporary interior finishes. The property includes two bathrooms, appliances, and a washer-and-dryer combination serving the laundry area in each unit. The layout supports separate residential occupancy within one multifamily building.
Off-street parking adds convenience for residents. The property is positioned in a primarily residential area with access to shopping, dining, everyday services, public transportation, major corridors, and the interstate. Its location provides connectivity for local commuting while retaining a neighborhood-oriented setting.
Off-street parking adds convenience for residents. The property is positioned in a primarily residential area with access to shopping, dining, everyday services, public transportation, major corridors, and the interstate. Its location provides connectivity for local commuting while retaining a neighborhood-oriented setting.
Key Highlights
- Duplex configuration with two residential units
- Renovated with new roof, electrical, and plumbing
- Two bathrooms and appliances included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,059
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$481,180
$481.2K
Cap Rate 7%
$343,700
$343.7K
Cap Rate 9%
$267,322
$267.3K
Market Conditions
NOI Build-Up for 1,900 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$37.6K $19.80/SF
− Vacancy
−$3.3K −$1.71/SF
EGI
$34.4K $18.09/SF
− OpEx
−$10.3K −$5.43/SF
NOI
$24.1K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$481,180
Cap Rate 7%
$343,700
Cap Rate 9%
$267,322
Alternative Uses
Best Use
Multifamily LT 5
$343.7K
$300.7K – $401.0K
NOI $24,059 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$315.9K
$276.4K – $368.6K
NOI $22,114 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$482.9K
$422.6K – $563.4K
NOI $33,804 @ 7.0% cap · market cap 8.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
712
Businesses Nearby
Explore this area
Business Placement
Demographics for 70118, LA
35,635
Population
15,464
Households
2.3
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
7,747
Density / Sq Mi
$62,665
Median Household Income
$28,199
Median Earnings
$1,257
Median Rent
$451,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Updated two-unit property with included appliances and dedicated laundry facilities in both residences.
Where is this duplex located?
The property is located at 8537 39 Apricot Street New Orleans, LA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Duplex configuration with two residential units; Renovated with new roof, electrical, and plumbing; Two bathrooms and appliances included
